Novak Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 60 cents per 16-ounce bottle to retailers, who charge customers 90 cents per bottle. For the year 2017, management estimates the following revenues and costs. $2,052,000 Selling expenses-variable $60,000 60,000 Sales Direct materials Direct labor Manufacturing overhead-variable Manufacturing overhead-fixed 460,000 Selling expensesixed 300,000 Administrative expenses-variable 83,800 430,000 Administrative expenses-fixed 539,300 58,000 Your answer is partially correct Prepare a CVP income statement for 2017 based on management's estimates. NOVAK COMPANY CVP Income Statement (Estimated) For the Year Ending December 31,2017 Sales 2052000 Variable Expenses Cost of Goods Sold 1190000 Selling Expenses 60000 Administrative Expense: Total Variable Expenses Contribution Margin Fixed Expenses 83800 1333800 718200 Cost of Goods Sold 539300 Selling Expenses 60000 Administrative Expense Total Fixed Expenses Net Income/(Loss) 58000 657300 60900 X Your answer is incorrect. Compute the break-even point in (1) units and (2) dollars. (1) Compute the break-even point units (2) Compute the break-even point Compute the contribution margin ratio and the margin of safety ratio. (Round variable cost per bottle to 3 decimal places, eg. 0.255 and final answers to 0 decimal places, eg. 2596) Contribution margin ratio Margin of safety ratio 30 % eTextbook and Media eTextbook 1 eTextbook 2 eTextbook 3 Media X Your answer is incorrect. Determine the sales dollars required to earn net income of $32,200. Required sales dollars $